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Revenue Recognition (Tables) | 6 Months Ended
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Jun. 30, 2023
Revenue from Contract with Customer [Abstract] |
Summary of Disaggregation of Revenue by Major Source | The following tables disaggregate our revenue by major source for the quarters and years to date ended June 30, 2023 and 2022 (dollars in thousands):
|  | For the Quarter Ended June 30, 2023 |  |  | For the Quarter Ended June 30, 2022 |
|  | CTU (3) |  |  | AIUS (4) |  |  | Corporate and Other |  |  | Total |  |  | CTU |  |  | AIUS |  |  | Corporate and Other |  |  | Total |
Tuition, net (1) |  | $ | 112,864 |  |  | $ | 63,136 |  |  | $ | - |  |  | $ | 176,000 |  |  | $ | 94,828 |  |  | $ | 63,083 |  |  | $ | - |  |  | $ | 157,911 |
Technology and miscellaneous fees |  |  | 5,420 |  |  |  | 3,100 |  |  |  | - |  |  |  | 8,520 |  |  |  | 4,921 |  |  |  | 3,064 |  |  |  | - |  |  |  | 7,985 |
Total tuition and fees, net |  |  | 118,284 |  |  |  | 66,236 |  |  |  | - |  |  |  | 184,520 |  |  |  | 99,749 |  |  |  | 66,147 |  |  |  | - |  |  |  | 165,896 |
Other revenue (2) |  |  | 1,008 |  |  |  | 826 |  |  |  | 210 |  |  |  | 2,044 |  |  |  | 712 |  |  |  | 773 |  |  |  | 303 |  |  |  | 1,788 |
Total revenue |  | $ | 119,292 |  |  | $ | 67,062 |  |  | $ | 210 |  |  | $ | 186,564 |  |  | $ | 100,461 |  |  | $ | 66,920 |  |  | $ | 303 |  |  | $ | 167,684 |
|  | For the Year to Date Ended June 30, 2023 |  |  | For the Year to Date Ended June 30, 2022 |
|  | CTU (3) |  |  | AIUS (4) |  |  | Corporate and Other |  |  | Total |  |  | CTU |  |  | AIUS |  |  | Corporate and Other |  |  | Total |
Tuition, net (1) |  | $ | 230,862 |  |  | $ | 129,781 |  |  | $ | - |  |  | $ | 360,643 |  |  | $ | 201,755 |  |  | $ | 128,534 |  |  | $ | - |  |  | $ | 330,289 |
Technology and miscellaneous fees |  |  | 10,843 |  |  |  | 6,353 |  |  |  | - |  |  |  | 17,196 |  |  |  | 10,545 |  |  |  | 6,389 |  |  |  | - |  |  |  | 16,934 |
Total tuition and fees, net |  |  | 241,705 |  |  |  | 136,134 |  |  |  | - |  |  |  | 377,839 |  |  |  | 212,300 |  |  |  | 134,923 |  |  |  | - |  |  |  | 347,223 |
Other revenue (2) |  |  | 2,079 |  |  |  | 1,768 |  |  |  | 476 |  |  |  | 4,323 |  |  |  | 1,309 |  |  |  | 1,529 |  |  |  | 582 |  |  |  | 3,420 |
Total revenue |  | $ | 243,784 |  |  | $ | 137,902 |  |  | $ | 476 |  |  | $ | 382,162 |  |  | $ | 213,609 |  |  | $ | 136,452 |  |  | $ | 582 |  |  | $ | 350,643 |
__________________ (1) Tuition includes revenue earned for all degree-granting programs as well as revenue earned for non-degree and professional development programs. (2) Other revenue primarily includes contract training revenue and miscellaneous non-student related revenue. (3) CTU includes revenue related to an acquisition completed on December 1, 2022. (4) AIUS includes revenue relat ed to an acquisition completed on July 1, 2022.
Summary of Deferred Revenue Balances Offset with Contract Assets | The amount of deferred revenue balances which are being offset with contract assets balances as of June 30, 2023 and December 31, 2022 were as follows (dollars in thousands):
|  | As of |
|  | June 30, 2023 |  |  | December 31, 2022 |
Gross deferred revenue |  | $ | 104,703 |  |  | $ | 107,200 |
Gross contract assets |  |  | (37,789 | ) |  |  | (35,610 | )
Deferred revenue, net |  | $ | 66,914 |  |  | $ | 71,590 |
Changes in Deferred Revenue Balances | Changes in our deferred revenue balances for the quarters and years to date ended June 30, 2023 and 2022 were as follows (dollars in thousands):
|  | For the Quarter Ended June 30, 2023 |  |  | For the Quarter Ended June 30, 2022 |
|  | CTU |  |  | AIUS |  |  | Total |  |  | CTU |  |  | AIUS |  |  | Total |
Gross deferred revenue, April 1 |  | $ | 42,372 |  |  | $ | 23,460 |  |  | $ | 65,832 |  |  | $ | 39,343 |  |  | $ | 28,507 |  |  | $ | 67,850 |
Revenue earned from prior balances |  |  | (32,859 | ) |  |  | (19,609 | ) |  |  | (52,468 | ) |  |  | (33,358 | ) |  |  | (23,850 | ) |  |  | (57,208 | )
Billings during period(1) |  |  | 148,118 |  |  |  | 74,318 |  |  |  | 222,436 |  |  |  | 88,990 |  |  |  | 76,034 |  |  |  | 165,024 |
Revenue earned for new billings during the period |  |  | (85,425 | ) |  |  | (46,627 | ) |  |  | (132,052 | ) |  |  | (66,391 | ) |  |  | (42,297 | ) |  |  | (108,688 | )
Other adjustments |  |  | 496 |  |  |  | 459 |  |  |  | 955 |  |  |  | 273 |  |  |  | 234 |  |  |  | 507 |
Gross deferred revenue, June 30 |  | $ | 72,702 |  |  | $ | 32,001 |  |  | $ | 104,703 |  |  | $ | 28,857 |  |  | $ | 38,628 |  |  | $ | 67,485 |
|  | For the Year to Date Ended June 30, 2023 |  |  | For the Year to Date Ended June 30, 2022 |
|  | CTU |  |  | AIUS |  |  | Total |  |  | CTU |  |  | AIUS |  |  | Total |
Gross deferred revenue, January 1 |  | $ | 67,245 |  |  | $ | 39,955 |  |  | $ | 107,200 |  |  | $ | 64,674 |  |  | $ | 49,045 |  |  | $ | 113,719 |
Revenue earned from prior balances |  |  | (58,404 | ) |  |  | (32,495 | ) |  |  | (90,899 | ) |  |  | (55,433 | ) |  |  | (38,066 | ) |  |  | (93,499 | )
Billings during period(1) |  |  | 248,130 |  |  |  | 127,450 |  |  |  | 375,580 |  |  |  | 175,611 |  |  |  | 124,609 |  |  |  | 300,220 |
Revenue earned for new billings during the period |  |  | (183,301 | ) |  |  | (103,639 | ) |  |  | (286,940 | ) |  |  | (156,867 | ) |  |  | (96,857 | ) |  |  | (253,724 | )
Other adjustments |  |  | (968 | ) |  |  | 730 |  |  |  | (238 | ) |  |  | 872 |  |  |  | (103 | ) |  |  | 769 |
Gross deferred revenue, June 30 |  | $ | 72,702 |  |  | $ | 32,001 |  |  | $ | 104,703 |  |  | $ | 28,857 |  |  | $ | 38,628 |  |  | $ | 67,485 |
______________ (1) Billings during period includes adjustments for prior billings.

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